Uber Technologies has secured board backing from Delivery Hero for its $14.8 billion takeover bid, advancing a major consolidation effort across the global food-delivery sector. According to Dow Jones Newswires, Delivery Hero confirmed that its management and supervisory boards independently reviewed the U.S. company’s offer and advised shareholders to accept it.
Delivery Hero Boards Back $14.8 Billion Takeover
The German delivery company stated that its leadership teams deemed the $14.8 billion proposal to be in the best interest of the company, its shareholders, employees, and broader stakeholders. According to Delivery Hero, both its management and supervisory boards share Uber’s perspective that combining the two platforms will accelerate product innovation and generate significant new opportunities for merchants, riders, drivers, customers, and employees.
Uber first disclosed the acquisition agreement in July, valuing the smaller company at $14.8 billion. While Delivery Hero indicated at that time that its boards planned to support the transaction, the latest announcement formalizes that backing and urges investors to approve the deal.
Industry Impact and Next Steps
The proposed tie-up brings together two of the largest food-delivery operators in the world, reshaping the competitive landscape for digital marketplaces and logistics networks.
Shareholders must now formally vote on the transaction in accordance with the recommendations issued by Delivery Hero’s governing boards.
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